CAclubindia News
GST Reduction to Make Insurance More Affordable, Says Finance Department Joint Secretary
24 October 2024 at 08:54The Department of Finance’s Joint Secretary has hinted at a potential reduction in Goods and Services Tax (GST) on life and health insurance premiums, making them more affordable for customers, as per a report.
ICAI Announces Extension of MEF 2024-25 upto 25th October 2024
23 October 2024 at 15:13Professional Development CommitteeThe Institute of Chartered Accountants of India23rd October 2024AnnouncementExtension of MEF 2024-25 upto 25th October 2024 The Institute is in receipt of representations from applicants who could not submit the MEF
Income Tax Department Releases Updated Common Offline Utility for Form 3CA-3CD and 3CB-3CD
23 October 2024 at 08:49The Income Tax Department has launched the latest version (1.3.3) of the common offline utility for Form 3CA-3CD and 3CB-3CD, essential for taxpayers required to submit audit reports under Section 44AB of the Income-tax Act, 1961.
Income Tax Department Releases Updated ITR-3 Utility Excel-Based Tool
23 October 2024 at 08:48The Income Tax Department has released an updated version (1.5) of the Excel-based utility for filing ITR-3, catering to individuals and Hindu Undivided Families (HUFs) with income from profits and gains of business or profession.
Surge in High-Income Taxpayers Reflects Growing Incomes and Compliance
23 October 2024 at 08:48The number of individuals reporting taxable income exceeding ₹1 crore has seen a dramatic rise, jumping from 44,078 in AY 2013-14 (FY 2012-13) to nearly 2.3 lakh in AY 2023-24 (FY 2022-23).
GSTN Introduces Bank Account Validation for Non-Core Amendments
23 October 2024 at 08:47GSTN has implemented a validation process for cases where a taxpayer attempts a non-core amendment to update bank account details.
GSTN Issues Advisory for GST REG-07
23 October 2024 at 08:46GSTN has introduced an update to facilitate the registration compliance for buyers of metal scrap through form GST REG-07.
Softy Ice-Cream Mix Classified as Sugar-Based, Will Attract 18% GST: AAR Ruling
22 October 2024 at 08:45In a recent ruling, the Rajasthan bench of the GST AAR determined that the softy ice-cream mix, sold by VRB Consumer Products, is primarily sugar-based, and not a milk product. As a result, it will attract a Goods and Services Tax (GST) rate of 18%.
GST Scam Exposes 35 Accused, Chartered Accountants in the Spotlight
22 October 2024 at 08:41In a rapidly unfolding investigation into a multi-crore GST scam, 35 individuals have been named as accused, including Siddharth Barad, nephew of BJP MLA Bhaga Barad.
GST Panels Propose Major Rate Changes for 100+ Products
22 October 2024 at 08:41The GoM will submit its recommendations to the GST Council by October-end, which will make the final decision. Additionally, the panel also addressed the GST on around 100 products.
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